ArcelorMittal has signed an agreement with Spanish energy company Moeve to acquire Energy Savings Certificates (CAEs) covering 2.1 TWh of annual energy savings, marking the largest transaction of its kind in Spain.
The agreement will support ArcelorMittal’s decarbonization programme at its Gijon long products plant, where the company is investing in a new electric arc furnace (EAF), currently in the final stages of construction. The project is expected to significantly reduce energy consumption and enable the production of lower-carbon steel.
Under Spain’s Energy Savings Certificate (CAE) scheme, companies can monetize verified energy efficiency improvements by selling certificates equivalent to the energy saved, helping finance investments in low-carbon technologies and industrial decarbonization.
The companies said the project will deliver annual energy savings of 2.1 TWh, equivalent to more than 5pct of the Asturias region’s final energy consumption. Once fully operational, it is expected to reduce carbon emissions from ArcelorMittal’s steelmaking operations in Asturias by up to 1 mln tons of CO2 equivalent per year.
ArcelorMittal Asturias is one of Spain’s largest integrated steelmaking hubs, comprising two main plants located in Gijon and Aviles. The operations are a key part of ArcelorMittal’s European footprint, producing both long and flat steel products with a combined annual capacity of around 5 mln tons. The Gijon site is primarily focused on long products, while Aviles specializes in flat steel production.